Author: Deal Street Asia Online News

Despite upsides in revenue, TPV and take rate, Indonesia’s Bukalapak stays in red

Indonesia’s listed technology group Bukalapak reported losses at around 390 billion rupiah ($24.5 million) for the July-September 2023 period compared to 4.97 trillion ($312 million) in losses in the corresponding period last year. However, Bukalapak posted a profit of 614 billion rupiah in the previous sequential quarter (April-June 2023). Bukalapak’s losses for the first nine… Continue reading Despite upsides in revenue, TPV and take rate, Indonesia’s Bukalapak stays in red

Mandiri Capital Indonesia, Investible to launch global climate tech fund

Venture capital investor Mandiri Capital Indonesia (MCI) has agreed to launch a global climate tech fund with Australian early-stage investor Investible, according to an announcement. The co-GP fund – Mandiri Investible Global Climate Tech Fund – seeks to identify and invest in climate tech and innovation in the Southeast Asia and Oceania region. Up to… Continue reading Mandiri Capital Indonesia, Investible to launch global climate tech fund

SE Asian venture funding in Jan-Sept 2023 retreats below pandemic levels

Venture capital funding in Southeast Asia has plummeted to levels unseen in many years. This stark decline, evident in the third quarter (Q3) of 2023, exacerbates an already challenging environment, according to DealStreetAsia DATA VANTAGE’s latest quarterly report. Startups in the region sealed 151 deals in July-September, down 27% from the previous three months, marking… Continue reading SE Asian venture funding in Jan-Sept 2023 retreats below pandemic levels

India Digest: Blubirch, Proost Beer secure fundingCornerstone Ventures and Capital2B led Blubirch’s funding round.

SaaS platform Blubirch has raised $6.3 million in a Series A funding round led by Cornerstone Ventures and Capital2B, while homegrown beer brand Proost Beer has raised $3 million in its pre-Series A funding round. Blubirch raises $6.3m in Series A Blubirch said it has raised $6.3 million in a Series A funding round led… Continue reading India Digest: Blubirch, Proost Beer secure fundingCornerstone Ventures and Capital2B led Blubirch’s funding round.

Stellantis set to buy 21% stake in China’s Leapmotor for $1.6b

Stellantis said on Thursday it is buying a 21% stake in EV maker Leapmotor in a $1.6 billion deal that will give it a fresh shot in China, the world’s biggest car market by sales, and the smaller Chinese carmaker a European foothold. Legacy international carmakers are playing catch-up in the shift to electric vehicles and… Continue reading Stellantis set to buy 21% stake in China’s Leapmotor for $1.6b

India Digest: Wow! Momo, The Indian Garage Co raise funding; Quality Care to buy KIMS Kerala

Wow! Momo has raised $9 million as a part of a Series D round, while TMRW has invested $18.6 million in D2C brand The Indian Garage Co. Separately, Blackstone-owned hospital platform Quality Care has signed an agreement to acquire KIMS Health Management. Wow! Momo raises $9m in Series D Quick service restaurant chain Wow! Momo… Continue reading India Digest: Wow! Momo, The Indian Garage Co raise funding; Quality Care to buy KIMS Kerala

TikTok, YouTube, Meta likely to seek e-commerce licences in Indonesia

TikTok and YouTube are considering joining Meta in applying for e-commerce licences in Indonesia after Southeast Asia’s largest economy banned online shopping on social media platforms, people familiar with the discussions said. Indonesia‘s trade ministry banned e-commerce transactions on social media a month ago, saying it sought to protect small and midsize offline merchants and marketplaces, and to ensure users’ data was protected.… Continue reading TikTok, YouTube, Meta likely to seek e-commerce licences in Indonesia